Taking over the Security Council presidency, China said Tuesday it opposes new sanctions against Iran for now because diplomatic efforts to bridge differences over the country's nuclear program are taking place. The statement by China's UN Ambassador Zhang Yesui, who will preside over the UN's most powerful body this month, is important because China is a veto-wielding member of the council. Zhang told a news conference that a discussion of sanctions against Iran was not on the council's agenda in January because of the diplomatic activity. President Barack Obama's administration and its international partners had set an end-of-2009 deadline to accept a UN-drafted deal for Iran to swap most of its enriched uranium for nuclear fuel. The deal would reduce Iran's stockpile of low-enriched uranium, limiting, at least temporarily, its capability to make nuclear weapons.